Prospera Financial Services Inc Decreases Stock Holdings in Atlassian Co. Plc (NASDAQ:TEAM)

Prospera Financial Services Inc decreased its holdings in Atlassian Co. Plc (NASDAQ:TEAMGet Rating) by 43.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 806 shares of the technology company’s stock after selling 612 shares during the quarter. Prospera Financial Services Inc’s holdings in Atlassian were worth $151,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. National Asset Management Inc. raised its position in Atlassian by 20.7% in the 1st quarter. National Asset Management Inc. now owns 1,409 shares of the technology company’s stock worth $415,000 after buying an additional 242 shares during the last quarter. Assetmark Inc. raised its position in Atlassian by 24.3% in the 2nd quarter. Assetmark Inc. now owns 5,634 shares of the technology company’s stock worth $1,056,000 after buying an additional 1,102 shares during the last quarter. Victory Capital Management Inc. raised its position in Atlassian by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 43,172 shares of the technology company’s stock worth $8,090,000 after buying an additional 350 shares during the last quarter. CIBC Asset Management Inc raised its position in Atlassian by 5.1% in the 1st quarter. CIBC Asset Management Inc now owns 15,865 shares of the technology company’s stock worth $4,662,000 after buying an additional 776 shares during the last quarter. Finally, Sands Capital Management LLC raised its position in Atlassian by 13.5% in the 1st quarter. Sands Capital Management LLC now owns 6,106,826 shares of the technology company’s stock worth $1,794,369,000 after buying an additional 725,599 shares during the last quarter. Hedge funds and other institutional investors own 87.29% of the company’s stock.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,614 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $237.95, for a total transaction of $2,049,701.30. Following the sale, the chief executive officer now directly owns 516,840 shares of the company’s stock, valued at approximately $122,982,078. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 137,824 shares of company stock valued at $26,015,658 in the last ninety days. Corporate insiders own 43.11% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several research reports. StockNews.com initiated coverage on shares of Atlassian in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Jefferies Financial Group reduced their price target on shares of Atlassian from $260.00 to $220.00 and set a “hold” rating for the company in a research report on Monday, October 31st. Wolfe Research upped their price target on shares of Atlassian from $240.00 to $290.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Cowen reduced their price target on shares of Atlassian from $285.00 to $245.00 in a research report on Friday, July 22nd. Finally, Citigroup reduced their price target on shares of Atlassian from $375.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, November 7th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.00.

Atlassian Price Performance

TEAM stock opened at $142.37 on Monday. Atlassian Co. Plc has a 1-year low of $114.11 and a 1-year high of $451.50. The business has a 50 day simple moving average of $207.04 and a two-hundred day simple moving average of $209.52. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.19 and a current ratio of 1.25.

Atlassian (NASDAQ:TEAMGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.46. The business had revenue of $807.39 million for the quarter, compared to analysts’ expectations of $806.42 million. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The company’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, equities analysts anticipate that Atlassian Co. Plc will post -0.95 earnings per share for the current fiscal year.

About Atlassian

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Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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